Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Dixons Carphone [LON:DC] has published a trading statement covering the 10 weeks to January 4th this morning. Sales have been broadly upbeat, although UK mobile disappointed, down 9% on a like for like basis against the same period a year ago. A lack of innovation in terms of handsets is often cited as a driver here and this seems unlikely to change any time soon. Growth in the domestic market has come against a backdrop of contraction in the general UK retail sphere, so arguably there’s plenty to be encouraged about in these numbers.
easyJet [LON:EZJ] has issued its Q1 trading statement today, noting a 9.9% increase in revenue off the back of a 2.8% uplift in passenger numbers. That’s ahead of expectations, with the company continuing to benefit from a range of factors including the collapse of Thomas Cook plus ongoing growth of ancillary revenues. Costs did rise 4.3% but the company is working hard to offset these pressures wherever possible There’s optimism over revenue growth in the near term too, with forward bookings for the first half fractionally ahead of where they were a year ago.
Direct to consumer mattress retailer Eve Sleep [LON:EVE] has published a full year trading update this morning. Revenues have tumbled from £29.3m to £23.8m but losses and cash burn are significantly constrained, too. The business believes that the last four months of 2019 is more indicative of its future prospects and with the company having broken even at the ‘operating level’ (that’s before overheads) for the first time, there’s hope that a brighter future lies ahead. Full results are due on March 24th.